The court found that Cook's agreements with Guidant are a "sham" and ruled that they violate the co-exclusive license agreement among Boston Scientific, Cook and Angiotech Pharmaceuticals, Inc. In addition, the court scheduled a June 27 hearing to consider remedies for Cook's breach. Boston Scientific will request a permanent injunction prohibiting any activities under the Cook-Guidant agreements and any future attempts to circumvent the Angiotech agreement. Further, Boston Scientific will seek to enjoin the use of any clinical data and any technologies developed by Cook or Guidant in violation of the Angiotech agreement.

In 1997, Boston Scientific entered into an agreement with Angiotech and Cook under which Boston Scientific and Cook were granted co-exclusive rights to use paclitaxel to coat coronary stent products and other vascular and nonvascular products. In the fall of 2001, Cook and Guidant announced a series of agreements by which, among other things, Cook would enable Guidant to sell paclitaxel-coated stents. Today, the court ruled that these agreements violate the 1997 agreement.

"The court confirmed our belief that any arrangement between Cook and Guidant that results in Guidant developing or selling paclitaxel-coated stents violates the co-exclusive license agreement," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "We are pleased that the court reached a speedy decision, and we look forward to continuing progress in our efforts to bring paclitaxel-coated stent technology to physicians and patients."

Angiotech is a Canadian pharmaceutical company dedicated to the development of medical coatings and treatments for chronic inflammatory diseases through reformulation of paclitaxel.

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties.

This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with litigation, clinical trials, the regulatory approval process, commercialization of new technologies and other factors described in the Company’s filings with the Securities and Exchange Commission.